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July 16, 2001
By: TOM BRANNA
Editor
British personal care retailer The Body Shop International Plc said on Monday it had conditionally agreed to buy Bellamy Retail Group, its joint venture partner in the United States, for $11 million. The Body Shop will pay for the deal by issuing 7.5 million new shares, representing around 3.9% of its current issued share capital.It also said it would make a cash payment of $1 million to BRG chairman Adrian Bellamy, who will remain a director of the Body Shop and continue to chair the board of i...
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